Importance of Home Insurance

Home insurance is vital to a family’s financial security. A home insurance policy provides security by covering the cost of repairing or replacing damaged or destroyed property. It has a secondary role of protecting the homeowner from any liability that may arise from the operation of the home.

A basic policy usually extends coverage to the house itself and to any related structures, such as a patio or detached garage, and to trees or plants that are growing on the property. Benefits will be paid in the event of damage or destruction resulting from fires and such weather events as powerful winds and lightning strikes. Coverage will not extend to vehicles, but they can be insured separately. Additionally, the average policy does not cover property damage resulting from such natural calamities as floods and earthquakes. However, “riders” can be attached to the policy to provide this type of coverage, with availability and cost dependent upon the probability of such disasters.

The liability portion of a home insurance by Youi policy is designed to provide protection from legal action taken by others. It will pay for damages, including medical expenses, in the event a guest is injured in some manner while on the property. Liability insurance will also pay for damages inflicted on adjacent property by trees or structures that belong to the homeowner.
The deductible is the amount for which the homeowner will be responsible in the event of an accident or natural disaster. Some customers may wish to pay more for their home insurance policies in order to obtain more comprehensive coverage. An increase in the deductible will, however, reduce the cost of the policy.

Property owners need to understand the nature and the limitations of the home insurance policies they plan to purchase. A conversation will an insurance agent can clarify some of these issues and help identify the specific needs of the homeowner.

Finding Cheap Car Insurance

If you own a vehicle, then you know that you must have car insurance on it. Choosing a quality car insurance company is important not only for your budget but for your vehicle, as well. Finding cheap car insurance doesn’t necessarily mean skimping out on services and additions. There are a few tips and tricks to finding cheap auto insurance that will work for your wallet and still provide you the coverage that you need.

Decide What Coverage is Necessary

When you are trying to find cheap car insurance, you may be able to skip out on a few add-ons that can cause your premium to increase. Rental insurance is one type of coverage that you will be asked about when you are signing up with a cheap car insurance company. Rental coverage will help pay for a rental vehicle if your car or truck is in an accident and in the shop for repairs. If you have multiple vehicles at your home that you can use, then you may wish to skip this coverage, as you can simply drive another car while yours is in for repairs.

Another type of coverage to consider is emergency assistance. Many cheap car insurance companies offer this coverage, but do you really need it? If you are already a member of AAA or another roadside assistance program, you don’t need the added expense. If your vehicle is relatively new, the manufacturer of the car may even offer free roadside assistance for a number of years. This will save you money when you need to get cheap car insurance .

Collision, Comprehensive and Liability

One of the biggest factors to consider when you are looking for cheap car insurance is whether you need comprehensive and collision coverage for your vehicle, or if you can get by with just liability. Comprehensive and collision may be a required coverage if you do not own your vehicle; for example, if you have a loan out for the vehicle that is not paid off yet. These two coverages will cause your insurance rates to rise but also cover your vehicle completely if you are in an accident that is found to be your fault.

However, liability coverage is a lot less expensive and may be a good choice if your vehicle is an older model or you do not drive too often. Liability will cover the other person and their vehicle if you are in an automobile accident. It will not cover you or your car. Consider liability coverage if you are trying to keep your car insurance costs low.

Raise Your Deductible

When you are looking for cheap car insurance, consider raising the deductible to a higher amount. This allows you to lower your premiums for every month. While many people decide on a deductible of $500, raising it to $1,000 or more will greatly increase your chances of finding cheap car insurance easily. Just make sure you will have the resources to pay this amount if you are in an accident in the future.